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Singapore dollar to hold its ground in 2023

The Singapore dollar is set to end the year as Asia’s most resilient currency against an exceptional surge in the United States dollar.
26 December 2022, 18:00 PM

Orders of US manufactured goods slump

Orders for big-ticket US manufactured goods dropped more than expected in November,bogged down by a sharp decline in the aircraft segment, according to government data released recently.
26 December 2022, 18:00 PM

Mongla port upgrade: Tk 6,014 crore deal inked with Indian firm

Egis India Consulting Engineers Private Limited has been appointed as the consultant for a capacity building project worth Tk 6,014 crore at Mongla port, the second largest seaport in Bangladesh.
26 December 2022, 15:26 PM

Tesla suspends production at Shanghai plant

Tesla suspended production at its Shanghai plant on Saturday, according to an internal notice and two people with knowledge of the matter, bringing ahead a previous plan to pause most work at the plant in the last week of December.
25 December 2022, 18:00 PM

India should prepare for headwinds: IMF

India’s future interest rate hikes should be carefully calibrated and its intervention in the foreign exchange market should be limited to managing volatility, the International Monetary Fund (IMF) said on Friday.
25 December 2022, 18:00 PM

India’s forex reserves fall, now $563.5b

India’s foreign exchange reserves snapped a five-week rising streak and fell to $563.5 billion in the week through December 16, the Reserve Bank of India’s (RBI) statistical supplement showed on Friday.
25 December 2022, 18:00 PM

Stocks wobble though inflation is cooling off

US and European stocks wobbled on Friday despite a key gauge showing inflation to be slowing, as investors remain concerned about recession risks.
25 December 2022, 18:00 PM

German inflation to remain high for two years

Inflation is likely to remain high for another two years as companies pass on higher input costs and in some cases exaggerate them, the head of the council of economists that advises the German government was quoted as saying on Saturday.
25 December 2022, 18:00 PM

Graft charges put Maldives ex-president Yameen in jail

The Maldives criminal court on Sunday sentenced former president Abdulla Yameen to 11 years in prison and fined him $5 million after finding him guilty of corruption and money laundering charges related to receiving kickbacks from a private company.
25 December 2022, 15:40 PM

India's forex reserves snap 5-week rise

India's foreign exchange reserves snapped a five-week rising streak and fell to $563.5 billion in the week through Dec. 16, the Reserve Bank of India's (RBI) statistical supplement showed on Friday.
25 December 2022, 08:08 AM

Japan firms to stop insuring ships in all Russian waters

Three Japanese insurance companies will stop insuring ships for damage in all Russian waters due to the war in Ukraine, potentially affecting Japan’s energy imports including liquefied natural gas (LNG), the Nikkei newspaper said on Saturday.
24 December 2022, 18:00 PM

S&P lowers Pakistan’s credit rating

Global ratings agency S&P Global on Thursday cut Pakistan’s long-term sovereign credit rating by one notch to “CCC+” from “B” to reflect a continued weakening of the country’s external, fiscal and economic metrics.
24 December 2022, 18:00 PM

Oil price rises by $3 per barrel

Oil prices settled about $3 per barrel higher on Friday for a second straight week of gains after Moscow said it could cut crude output in response to the G7 price cap on Russian exports.
24 December 2022, 18:00 PM

US growth revised up to 3.2pc in Q3

The US economy expanded 3.2 per cent in the third quarter, the Commerce Department said Thursday, in a further upward revision of data reflecting stronger consumer spending and investment than earlier estimated.
24 December 2022, 18:00 PM

Japan inflation hits 41-year high

Prices in Japan rose at their fastest pace since 1981 in November, data showed Friday, fuelled in part by higher energy costs.
24 December 2022, 18:00 PM

UK business still feels Brexit blues

Two years after Britain’s departure from the European Union, bosses of UK businesses are reeling from the cost of Brexit, including some who voted to cut ties with Brussels.
24 December 2022, 18:00 PM

Canada’s economy slows

The Canadian economy grew by 0.1 per cent in October and is expected to expand at the same pace in November, data showed on Friday, a sign that the full impact of seven consecutive interest rates hikes this year has yet to play out.
24 December 2022, 18:00 PM

Indonesian airports expect 2.5m travellers

The number of passenger movement at 20 Indonesian airports during the Christmas and New Year holiday this year is expected to reach 2.54 million passengers, PT Angkasa Pura II (AP II) predicts, as the state-owned operator readies its service to accommodate the end-of-year peak season.
24 December 2022, 18:00 PM

Japan insurers to halt coverage for ships sailing in Russian waters

Japanese insurers will stop providing coverage for ship damage suffered in Russian waters, a decision that could potentially disrupt Japan's imports from Russia's gas and oil producers in Sakhalin, people familiar with the matter said Saturday.
24 December 2022, 12:35 PM

US consumer confidence jumps in Dec: survey

Consumer confidence in the US economy spiked in December, bouncing more than expected as inflation expectations dipped and gas prices cooled, survey data showed on Wednesday.
22 December 2022, 18:00 PM